Easing Housing Costs and Supporting Stable Settlement
Muan County in South Jeolla Province will begin a full-scale initiative to support jeonse (long-term lease) and home purchase loan interest for newlyweds and multi-child families, aiming to promote housing stability and help them settle in the area.
On September 11, the county announced that this support measure is designed to ease the financial burden on younger generations, foster a family-friendly environment for childbirth and childrearing, and ultimately encourage population inflow.
The county will implement two programs in parallel. First, the jeonse loan interest support is available to newlywed couples and multi-child families without homes who are registered residents of Muan County.
The support covers up to 1.5% per year of the outstanding loan balance, with a maximum of 1 million won per year, for up to three years (up to 3 million won per household). This year, 50 households will be selected, with a total budget of 50 million won.
Eligible applicants include newlyweds who registered their marriage within the past seven years, or multi-child families who registered their marriage within the past ten years and have at least two children under the age of 18. Both spouses must be without homes, household income must not exceed 180% of the median income, and the home must have a floor area of 85 square meters or less.
The home purchase interest support applies to households without homes that purchase a property in Muan County valued at 600 million won or less between October 1, 2024, and September 30, 2025. Applicants must pass a review using Korea Housing Finance Corporation’s Bogeumjari Loan or Didimdol Loan. Selected households will receive up to 250,000 won per month for up to 36 months (up to 9 million won per household). A total of 48 households will be selected for this program.
For newlywed couples, eligibility requires that the marriage was registered within the past seven years, both spouses are under 49 years old, and combined income does not exceed 85 million won. Multi-child families must have at least two minor children (at least one under 12 years old) and an annual income of 100 million won or less.
Applications for jeonse loan support are open until October 24, and for home purchase support until October 17. Applications can be submitted at the local township or town office during weekday business hours. Priority will be determined based on income level, number of children, and length of residence, with results to be individually notified in November.
Kim San, the county governor, stated, "This support program will play a crucial role in alleviating the housing cost burden for younger generations, helping them settle down, and creating a family-friendly environment for childbirth and childrearing. We hope for the active interest and participation of our residents."
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